{"id":73967,"date":"2023-10-05T00:00:00","date_gmt":"2023-10-05T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2023\/10\/05\/dp-world-maspion-group-break-ground-on-new-container-terminal-in-east-java\/"},"modified":"2023-10-05T00:00:00","modified_gmt":"2023-10-05T00:00:00","slug":"dp-world-maspion-group-break-ground-on-new-container-terminal-in-east-java","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2023\/10\/05\/dp-world-maspion-group-break-ground-on-new-container-terminal-in-east-java\/","title":{"rendered":"DP World + Maspion Group break ground on new container terminal in East Java"},"content":{"rendered":"

DP World + Maspion start construction on delayed East Java container terminal: <\/strong>DP World<\/a> and Indonesian conglomerate Maspion Group<\/a> have kicked off construction on a new container terminal in Gresik, East Java in a groundbreaking ceremony, according to a press release<\/a>. The facility is one of several DP World is building and operating as part of a strategy to expand its global ports and logistics network. <\/p>\n

Background: <\/strong> DP World and Canadian investor Caisse de d\u00e9p\u00f4t et placement du Qu\u00e9bec (CDPQ)<\/a> inked a long-term agreement in mid-2021 with Maspion Group that was meant to pave the way for construction work on the terminal to begin in 3Q 2021, with initial plans to start operations early 2023, Wam<\/a> reported. Investments for the project at time were estimated at USD 1.2 bn. <\/p>\n

What happened to CDPQ? <\/strong> The original JV was inked between DP World, CDPQ, and Maspion, though the new statement does not mention CDPQ\u2019s role in the JV. <\/p>\n

Details: <\/strong> The terminal will have a capacity of up to 3 mn twenty-foot equivalent units (TEU), and will be operated by Maspion and DP World\u2019s joint venture, dubbed DP World Maspion East Java, the statement adds. The JV has plans to also develop a 110 hectare integrated industrial and logistics park, with room for further expansion, in close proximity to the terminal with the aim of providing end-to-end supply chain solutions.<\/p>\n

What they said: <\/strong> \u201cOur partnership with Maspion Group to build new infrastructure in Gresik will strengthen East Java\u2019s position as a key trade and logistics gateway,\u201d Group Chairman and CEO of DP World Sultan Ahmed bin Sulayem said in the press release. \u201cIt will also serve as a cornerstone in our strategy to expand our global ports and logistics network to offer our customers end-to-end solutions and boost supply chain resilience,\u201d he said.<\/p>\n

DP World has been on an expansion spree in Asia: <\/strong> The logistics outfit recently signed a concession agreement<\/a> valued at USD 510 mn for a new mega container terminal at Kandla in India, and later said it plans to invest INR 2.15 bn in the logistics and warehousing sector in India\u2019s Telangana state. It will also help expand<\/a> and \u201cmodernize\u201d Indonesia\u2019s Belawan New Container Terminal (BNCT), as part of a consortium with Indonesian sovereign wealth fund Indonesia Investment Authority<\/a>(INA), which has partnered with Indonesia state-owned port operator Pelindo<\/a>. The company also has a USD 7.5 bn agreement<\/a> with Indonesia\u2019s sovereign wealth fund to develop the country\u2019s seaports over a period of 30 years.<\/p>\n","protected":false},"excerpt":{"rendered":"

The project was originally slated to begin operations in early 2023<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[190],"tags":[17,586,380,37,123,129],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-73967","post","type-post","status-publish","format-standard","hentry","category-shipping-maritime","tag-enterprise-logistics","tag-indonesia","tag-investment","tag-ports","tag-shipping-maritime","tag-uae","wpautop","entry"],"acf":{"mongo_id":"a0b54951-e45b-4802-8df1-967ed5f67013","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/10\/318.jpg,https:\/\/www.dpworld.com\/news\/releases\/dp-world-breaks-ground-on-new-container-terminal-in-east-java\/","photo_position":"above","homepage_title":"","full_issue_title":"DP World + Maspion Group break ground on new container terminal in East Java","related_issue":[73960],"teaser":"The project was originally slated to begin operations in early 2023","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/10\/.07ee0fdd-cdfa-425e-b4dc-c82eec929318.mp3"},"yoast_head":"\nDP World + Maspion Group break ground on new container terminal in East Java - 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